Usually, one account is enough to execute your orders. But can you have multiple trading accounts in India? The short answer is yes. But there is more to it. Read on to discover.

Can You Open Multiple Trading Accounts Online?

Let’s say you are an intraday trader. You have an account with a full-service broker that provides free perks such as trading reports, advisory and tools. However, you feel that your current broker does not offer enough discounts or competitive brokerage.

In that case, you can search for a discount broker and open a trading account with them. Now you can use your previous broker for research and the latter’s intraday trading app or platform to trade on discounted brokerage! Thus, you can have more than one trading account but you cannot open them with the same broker.

You can choose to link all your trading accounts with one Demat account as you cannot open different Demat accounts with other brokers.

But what are the pros and cons of having multiple trading accounts? Let’s learn.

Advantages of Multiple Trading Accounts

Here are some perks of having more than one trading account.

• Having multiple trading accounts enables you to smartly segregate your investment portfolio for easier management.
• When you open trading accounts with different brokers, you enjoy benefits such as competitive brokerage, research reports, a variety of trading features, etc.
• Setting up a trading account online is super easy. For example, you can create a trading account in minutes using a web or intraday trading app on your smartphone.
• If you are not happy with the services of your current broker, having a trading account with other brokers makes switching easier.
• If one broker is experiencing technical failures, you can still trade using another broker.

That all sounds so good. But are there any cons to having more than one trading account? Sadly, yes.

Disadvantages of Multiple Trading Accounts

Let’s talk about some disadvantages of creating multiple trading accounts.

• Tracking every trade on every trading account becomes a big obstacle.
• If you have too many accounts and you are not actively using some of them, they might end up freezing.
• You may be subjected to account opening and maintenance charges when opening a trading account with brokers.

Dhan enables you to open a trading account and start trading without any initial fees or charges. You can create an account by following a simple and completely paperless process.

Conclusion

You can have multiple trading accounts online in India but you cannot open them with the same broker. If you choose to open different trading accounts, you can easily segregate your investment portfolio and enjoy the benefits offered by different brokers. However, you must be willing to accept the charges that come with opening and maintaining multiple trading accounts.

Also Read : Consolidate Secondary Apps And Data, And Accelerate Your Move To Hybrid Cloud

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The birth of the Blockchain can be traced back to 2009, when Bitcoin, the best-known cryptocurrency in the world, was born.

Bitcoin was the first distributed ledger system in the world that inspired companies and developers to create new ones, reaching the most disparate topics.

The Blockchain is like a decentralized ledger made up of blocks; the information travels from block to block to the chain, and at each step, there is an autonomous check that validates the validity of the operation.

“Secure exclusive savings on the decentralized ledger network by applying a ledger discount code for your Blockchain transactions.”

Technology, therefore, allows for the first time to have a decentralized, digital, and above all, reliable verification system, which places it on the podium of modern revolutions.

The Birth Of The Blockchain

The birth of the Blockchain takes place according to some well-defined moral and scientific principles:

• Decentralization: the travel of information on several decentralized blocks allows for more security;
• Traceability: every movement on the Blockchain is traceable and traceable to real persons – natural or legal -; this allows you to avoid unpleasant pleasantries that could embrace illegality.
• No intermediary: no third party to mediate the negotiation between two parties, allowing, for example, a safe, direct, and low-cost transaction.
• Total transparency: Every movement on the Blockchain can be consulted by anyone; the fundamental element is to know the operation’s key that allows you to view the journey and the topic of the Blockchain.
• Immutability: the operations carried out on this technology are immutable; therefore, they allow the insertion of clauses – in the case of smart contracts on the Blockchain – and do not provide for fraudulent changes.
• Programmability: each operation is programmable, and it is possible to start operations based on the input received. For example, in the case of smart contracts, it is possible to receive an additional sum of money upon reaching a preset goal; think, for example, of player bonuses.

Given the founding principles of the Blockchain, we can start thinking about future (and some already current) applications. 

For example, there is already talk of e-wedding or the possibility of getting married without the need to contact a priest or the mayor. The official marriage would take place without an intermediary. 

But in addition to this nice application, let’s see some application examples and the medium’s potential.

Verification Of The Authenticity Of The Jewels

When we talk about jewelry or precious stones, we must understand how many counterfeit products are in circulation and sold as if they were real.

Diamonds, above all, are among the most counterfeited valuables, but with the Blockchain, Everledger has decided to trace each diamond extracted and make the process that brings the diamond from the mine to the jewelry available for everyone to see.

In this way, it is possible to analyze the extraction, processing, and marketing process, observing its real value without incurring possible fraud. 

Buying Real Estate All Over The World Online

There is a platform called Rex that allows everyone to buy properties worldwide from the comfort of a PC or smartphone.

This is because the contract that verifies the purchase takes place via the Ethereum platform, an immutable blockchain that guarantees ownership after the transaction.

In this way, we could say goodbye to intermediaries and save time and money on purchasing the property. However, such an application is only in its infancy, but it is incredible to think how, in the short term, we could buy a property with a simple click.

Digital Voting

A thorny issue is digital voting. We are used to showing up in the voting booth to vote, but what if, in the future, we could do it from home and legally?

Blockchains are being discussed, allowing citizens to vote digitally without physically presenting themselves to the polling stations.

Before seeing the digital vote, there is a need for a platform that records the vote univocally, prevents it from being falsified, and guarantees the uniqueness of the single vote. 

Blockchain, Potential, And Future

As we have been able to observe, the moral and founding principles of the Blockchain are, at least on paper, deontological and ethical. At present, we can already have a taste of applications of this technology, such as seeing the origin of the foods we put on the table every day.

But if we are already discussing weddings and real estate purchases without intermediaries today, what could we do on a blockchain network in the future?

We already have some ideas. 

An example could be the complete digitization of documents to make it impossible to falsify or manipulate people’s identities.

Or we could monitor production processes in companies like ours and validate portions of code so that our applications are unique and safe from possible theft.

Many companies already use the decentralized system, bringing enormous benefits both in economic terms and in reputation. We have already seen how companies apply technology.

We care about the world of Blockchain and already work with our partners to develop applications for this technology and BSV Blockchain is one such trusted source.

Also Read : AdWords Management Companies: How To Find Them

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Today the blockchain is used above all in the cryptocurrency field, the most famous is Bitcoin, followed by Ethereum, but the application of this model is being studied in other areas.

But first, we need to understand what a blockchain is. We can identify it as a decentralized ledger, the information which is verified along the entire information transmission path and prevents it from being falsified.

It is a chain of networks in which all the information to be protected is stored in an encrypted form. The characteristic of this ledger is the possibility for each individual to be able to see who they are doing business with.

These characteristics make today’s smart contracts increasingly widespread via blockchain.

Although the technology is still in its infancy, several companies are already using it and are finding many benefits, both in management and economic terms.

But how exactly do companies use blockchain? Let’s see some practical cases.

Maersk And The Supply Chain

Maersk is a global giant in shipping by sea. The company has an extremely delicate task, as it has to deliver goods over long distances, catalog them and ensure that they arrive intact at their destination.

There is no room for error in their work, and any mistake can cost millions.

But when you deliver an untold amount of goods, it isn’t easy to keep track of all the data and to check the journey in detail.

Since 2018 Maersk has been collaborating with IBM to digitize the supply chain. Through blockchain, they have managed to create a computerized system that allows suppliers and buyers to monitor the journey of goods.

Through their systems, it is possible to check the exact position of the ships, to consult in real-time the status of customs documents and many other tracking data.

And this happens to millions of containers that are moved by sea yearly.

Barilla

Barilla is one of the world leaders in commercial food and one of the best-known Italian brands worldwide.

The company makes Italy its strong point and does not hide its tricolor origins; indeed, outside our country, it is a point of reference.

His vision is always projected to the future; the company uses the blockchain to monitor its products.

In partnership with IBM, Barilla has a project to monitor the food transformation process. This system allows you to check the origin and quality of raw materials publicly and monitors the process that brings food from production to the consumer’s table.

Currently, the project has seen the light with fresh basil, but the intention is to extend it to other raw materials.

Crea

The Council for Agricultural Research and Analysis of the Agricultural Economy is an important body in Italy.

Its task is to conduct research in the agri-food sector on the territory and is supervised by the Ministry of agricultural, food, and forestry policies.

They operate throughout the territory, constantly monitor our local production, and have decided to take a step forward.

In collaboration with Microsoft, Crea has developed a wood monitoring system that monitors the material transformation process.

Thanks to the blockchain, it is possible to check the origin of the wood and take note of its industrial process, which starts from the harvest, passes through processing in the sawmills, and ends with delivery to the consumer.

In this way, the production process is transparent, and the final consumer can check the quality of the wood, if the production process is sustainable, and evaluate the purchase.

The Future Of The Blockchain, How It Work

Thanks to the blockchain, it isn’t easy to understand what the future will be like, but the conditions are excellent given how it works. We are talking about a technology that verifies information block by block, making it immutable, traceable, and decentralized.

At present, it allows us to control the quality of the products we buy, the journey of the goods we produce, and protect the parties in the contracts. However, there are other practical applications, such as those in the financial sphere.

However, there are still doubts about its widespread diffusion, dictated by the fact that we are talking about new and unprecedented technology with almost infinite fields of application.

Also Read : How To Set Up Google Workspace For Your New Business

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Bitcoin blockchain exchanging stages

Blockchain might actually supplant existing exchanging stages since financial backers who are selling stocks through Blockchain will have moment admittance to their assets rather than the typical holding up time. Exchanges on blockchain are a lot quicker, at a lower cost, and all the more critically, safer than most stages. As we probably are aware, security is an immense component on the planet evolving blockchain. Due to its plan, blockchain is fundamentally unusable. The records of this exchange are decentralized, i.e duplicates of these exchanges are accessible and should be checked by the hubs. When an exchange is affirmed, it is “fixed” in a square and it is inordinately difficult to transform it. Since the stage is so secure, it tends to be utilized as a democratic instrument in the United States and even all over the planet.

Debasement misrepresentations

There are many affirmed instances of debasement and misrepresentation that casting a ballot utilizing blockchain will mollify these feelings of dread. Once more, everything is public. It’s pressing. Furthermore it’s actual safe. There will be no stresses over difference in votes or non-counting of votes. The non-refundable record will affirm this. As well as being public, dependable, and secure, Bitcoin is additionally truly reasonable. For most exchanges, this will take out the center man. Discretion gatherings won’t be needed to organize or audit exchanges. Organizations won’t need to spend on security to keep away from misrepresentation as blockchain covers it. Organizations can likewise utilize the blockchain to audit their store network and distinguish hindrances.
Starting of blockchain

You might think that it is strange how Blockchain began as a little stage to help Bitcoin and presently the innovation is greater than it was intended to help. In spite of the fact that blockchain innovation is moderately new, it enjoys many benefits that merit overlooking. Blockchain innovation is straightforward. All exchanges are in the public record. Blockchain innovation is both quick and modest. Lastly, blockchain innovation is free from any and all harm.

Also Read : What Is The Bitcoin Mining A Guide To Beginners?

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Nowadays, you don’t have to sell your crypto coins to purchase others or boost your portfolio. You can easily apply for crypto-backed loans that use your crypto savings as loan security. For instance, you get a btc loan at a small interest fee.

If you’re interested in learning more about crypto loans, then you’re in the right place. In this guide, we will share how you can apply for crypto-backed loans. The guide will also highlight what you need to do to be eligible to apply for a crypto loan.

Crypto Pro-Savings Accounts

These days, most crypto exchange platforms offer pro-savings account services to their users. Pro-savings accounts are a special type of crypto wallet where users can save their assets. However, unlike regular crypto wallets, coins saved in a pro-savings account earn interest.

The interest rates may vary from one crypto platform to another. The earned interest is deposited into your account weekly. The interest rates are compounded, meaning that the longer you hold onto your assets, the more your savings grow.

Whenever you’re investing in crypto, you need to ensure you look for the best crypto exchange platform. You need to ensure that the platform has high-yield pro-savings accounts that allow users to earn interest from their crypto savings. In addition, check the amount of interest users earn from their crypto savings. Accounts that offer high interest rates are the best as you will earn more free coins.

YouHodler Account

YouHodler is one of the best crypto exchange platforms available. However, other than that YouHodler, users have access to pro-saving accounts and can apply for crypto-backed loans. The platform allows crypto investors to leverage their assets without having to sell.

Users on YouHodler can borrow bitcoin instantly since the loan approval process is quite fast. The loan amount depends on how much you have saved. YouHodler uses your savings as security for the loan. More savings translate to bigger loan amounts.

YouHodler also offers fiat currency loans. The interest rate charged is quite lower than what most banks charge. The loan is also processed instantly and the cash is deposited into your bank account. You can use crypto-backed loans to buy a house, fund your business, or even buy a car.

Bottom Line

Bitcoin loans can help you build your crypto portfolio without having to sell or trade any of your crypto coins. You can always use the btc loan app to calculate how much interest you will be charged. Your crypto savings are used as loan security, so more savings will make you eligible for bigger loan amounts. Make sure you repay your loans in time to avoid fines and penalties.

Also Read : Tips For Selecting The Bitcoin Trading Platforms

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What are DApps?

DApps are applications that are run and managed by multiple users on a decentralized network. This means that they do not depend on a centralized system for their operation. As they are not centrally controlled, failures are reduced, and the probability of sending corrupted data is also greatly reduced. The decentralized system is in charge of validating the interactions of the application through a smart contract.

Blockchain is the technology that cryptocurrencies use.

It has been taken as a consensus that DApps must be open source, and their operation must be autonomous; this avoids any entity’s control over the application tokens. The generation of the application tokens must be done through cryptographic algorithms, which are used to access the application as a reward for user contributions and certify contributions’ value. The processed data must be stored on a public blockchain.

Users who participate in data processing and network maintenance are rewarded in different ways depending on the application. Another advantage of this type of application is the reduction in the use of electrical energy for data processing since the processing load is distributed among the nodes of the system.

Advantage

DApps have several advantages over traditional applications; here are some of them:

• The drop-in services are substantially reduced because the processing is distributed in nodes in the network.
• They have great security due to the use of cryptographic techniques to encrypt the information. The data of this type of application user is kept securely and is more protected against attacks and theft since it is not in a centralized database.
• The information published in DApps cannot be used or tracked by any central entity to obtain data from its users.
• There is no censorship or restriction of content by a central entity.

Disadvantages

You should know that DApps also has some drawbacks; the following are some:

• Its development requires knowledge about blockchain and information encryption; this makes it difficult to develop new applications.
• They need a wide and robust network for their correct operation.
• They are vulnerable to the “51% attack”, this happens when an entity or group of users take control of more than half of the nodes that process transactions, allowing them to commit fraud on network operations.
• Excessive growth of the node network can increase the cost of processing operations.
• They have all the problems and limitations of blockchain technology.

Smart contracts

As we mentioned earlier, the validation of interactions with the application is done through smart contracts. A smart contract is a computer program that secures, enforces, and executes registered agreements. Its operation is simple: when a predefined condition of the contract is fulfilled, the contractual clause corresponding to that condition is executed. The blockchain has protocols that establish the rules so that the interaction through smart contracts is transparent and autonomous.

Ethereum is one of the decentralized platforms that allow the implementation of smart contracts. This allows developers to create decentralized applications with the implementation of smart contracts.

DApps examples

Ethereum is the most widely used platform for building decentralized applications. Its infrastructure allows the rapid and easy development of DApps, which has allowed the creation of thousands of applications of this type. NEO is another platform that offers the possibility of building decentralized applications using the tools they provide. Here are several examples of DApps:

• InterPlanetary Search Engine (IPSE) is a decentralized search engine based on EOS.
• Steemit is a social network that acts as a platform for bloggers.
• Golem (GNT) is a global use decentralized supercomputer that any user can access. Its power is given by all the computers connected to the decentralized network.
• Augur (REP) is a platform that provides predictions for investment in different markets using a decentralized algorithm. The signals are given based on the predictions of the network participants and trading indicators.
• CryptoKitties is a game that allows you to buy kittens, raise them, and sell them for a profit.

Also Read : What are Markup Languages?

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Assuming you are into bitcoin exchanging, you can pick the best bitcoin exchanging alternative to make the interaction simpler for you. In any case, presently that such countless bots are accessible, how would you know which one is better?

Simple To Alter And Utilize

The interface of a decent business bot ought to be not difficult to use by a merchant, including the individuals who think nothing about coding. All the fundamental data ought to be not difficult to track down and the advantages ought to be unmistakably shown alongside all parts of the business including buy requests and current deals. You should simply enter your pair and number and afterward start your business with a tick of a catch. As well as being straight for first-time clients, an altered business boot is surprisingly better. With this capacity, you will be in a situation to perceive how the skin looks so you have a program that you are glad to utilize without fail.

Working Framework Similarity

Not all bots are planned something similar and not all shippers utilize a similar working framework. Consequently, you need to get a stage that chips away at the working framework. With this kind of boot on your part, you can get to your business from Linux, Macintosh or Windows relying upon the gadget you are utilizing. You should connect any PC to keep exchanging with the USB working framework through your orders and settings. Independent that doesn’t need establishment and is viable with all frameworks will ultimately end up being a lot simpler.

Backing For Sets, Coins, And Trades

Notwithstanding bitcoins, you might be keen on different matches, trades and coins. So it very well might be more useful to discover a dealer’s boot that can oblige the different coins offered by huge trades. A decent cryptocurrency will turn out incredible for an abrupt sort of broker. Other boot includes that can be useful are warnings and revealing, continuous and, among others, verifiable backlinks. Discover how the broker can manage bread and pick in like manner with the Bitcoin apps.

Also Read: Difference Between Private And Public Blockchain

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What Is a Bitcoin Loan?

The basic building blocks of a bitcoin loan are similar to that of any loan. It’s a term financial product. All this means is you have to repay what you borrow (plus interest and fees) within a pre-determined time.

The details of your repayment — along with rates, conditions and the number of bitcoin you receive — vary from lender to lender. In many cases, they mimic existing financial products.

Who Funds This Financial Product?

Bitcoin is a decentralized cryptocurrency, so the world’s biggest banks aren’t issuing funds in the form of bitcoin. Not yet, at any rate. Instead, this kind of financial product comes from people or businesses that own bitcoin.

You can find these bitcoin users on crypto-backed platforms like bitcoin loop that operate like other peer-to-peer lending apps. Like other P2P options, these platforms make it easier to borrow in some respects:

• No credit check — They could be an option if you have bad credit as long as you have a trustworthy online presence.
• Low interest rates — Since they operate outside the typical financial sphere, they often have fewer surcharges and lower interest fees.
• Large borrowing amounts — These are best used for large personal investments or business needs.

Unfortunately, due to the volatile nature of bitcoin, this option isn’t without its drawbacks:

• Volatility — Fluctuations in price can make it a bad idea if you’re borrowing in the short-term, as the cryptocurrency may rise or fall 10% in one day.
• Regulation — There are reasons why people choose to borrow through trusted financial institutions when they can. Unlike P2P platforms, these organizations are accredited and highly regulated.
• Availability — Without regulation, it may be hard to get your hands on this kind of funding.

How Do They Compare to Installment Loans?

On the surface level, they’re similar. Installment loans are also a termed financial product that’s due back over a series of payments.

How they differ comes down to two major things:

1. The currency. You’ll receive funds in the official currency of your lender. If you reside in the U.S., you’ll deal in USD. For reference, 1 USD is equal to 0.000020 BTC.

2. Your needs. Crypto-based financial products may be ideal for people or businesses that don’t have the best credit score, need large amounts of cash over the long-term, and are willing to accept the risk of the volatile market.

If this risk is too much for you, a more traditional installment loan from banks or online direct lenders dealing with dollars may be a better option.

They may provide fewer funds, but they come with the backing of a regulated industry. Installment loans for bad credit are also available if you apply for a loan with MoneyKey and other online direct lenders.

The Takeaway

There’s a time and place when borrowing in Bitcoin might make sense. Whether it’s the right time for you depends on your risk tolerance to its volatility.

Borrowing money is a personal decision. Taking the time to see how your options compare to your needs can help you decide one way or another.

Also Read : Reliable Methods To Do Bitcoin Sell Anywhere

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So, are you planning to sell your Bitcoins soon? Then, you can learn how to go about this right here.

Bitcoin Sell On An Exchange

Selling Bitcoin on an exchange platform is convenient because everything is done online. There are many platforms today such as Nakitcoins, Paxful, Coinbase, Coinmama, and eToro where you can do Bitcoin sell.

As you do this, check if the broker has an option of doing Bitcoin sell to your Visa card. Most platforms will require you to make an account with them where the fiat money will be held until you withdraw it into a bank account that is connected to your debit card.

The process of transferring the money from your exchange account to a bank card differs from one platform to another. Be careful when following the procedure until the bank confirms that your Mastercard or Visa card has been loaded. Fortunately, reliable exchanges have clear instructions. For instance, you can sell Bitcoin with credit card on Nakitcoins by following simple instructions.

Bitcoin Sell On a Bitcoin ATM

You can easily do a Bitcoin sell to a Mastercard or Visa card from a Bitcoin ATM. These are advanced machines that buy your BTC and send money directly to your bank card. The process varies from one machine to another because they are made and operated by different companies.
The good thing is that a Bitcoin ATM is faster because they send the fiat money directly into your bank account where it is accessible with your debit Visa card or Mastercard.

Selling Bitcoin To a Bank

There is good news for anyone who is looking for a way to do Bitcoin sell to a Visa card. A bank that buys and sells cryptocurrency will help. This is an offline method that many people prefer to online options.

When you approach a bank to sell your Bitcoins, they will put the money directly into your Visa or Mastercard debit account. Although the bank is the seller, they ask for a processing commission, which is very affordable anyway. It is popular to do Bitcoin sell to your Visa card or Mastercard using your bank.

Benefits Of Selling Bitcoins To a Credit or Visa Card

When you do Bitcoin sell to a Visa or credit card, you make the proceeds of the sale very accessible. Many shops, including online shops, accept both Visa and Mastercard, so you can do your shopping conveniently. It is a safe way to carry around money as opposed to cash. So, consider doing Bitcoin sell to Mastercard and Visa card as a good option.

If you are still planning to do Bitcoin sell, you now know great methods you can rely on. Do not hesitate to use one that is appropriate for you, and you will not regret it.

Also Read : Tips To Your Bitcoins Business Sectors

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The official stated that the new legislation is one of the most stringent laws against cryptocurrencies in the world, and will criminalize the possession, issuance, mining, trading, and transfer of cryptocurrencies. 

However, in order to appease cryptocurrency investors, even if the bill is passed, it will give everyone a maximum of six months to liquidate, before violators will be punished. The government of Indian Prime Minister Narendra Modi (Narendra Modi) has a majority of seats in the parliament, so the bill is likely to be passed.

According to industry estimates, 8 million Indian investors now hold 100 billion rupees (about 1.4 billion U.S. dollars) worth of cryptocurrency.

However, the above-mentioned officials refused to disclose whether the new bill includes imprisonment and fines, and refused to provide more details, but said that the discussion has entered the final stage. 

The currency market is feverish again. After breaking through US$59,000 on the evening of March 13 and setting a new all-time high, Bitcoin once again rose to US$60,000, and it was on the hot search on March 14, and the market was talking a lot. In addition to Bitcoin holders, revelers, the “mining circle” of the Bitcoin upstream industry is also in a state of extreme fanaticism. New mining machines were sold out, second mobile phones were also robbed in seconds, and the mining industry was unprecedentedly hot due to the skyrocketing Bitcoin. However, in the view of industry insiders, under policy risks, it is still necessary to take a calm look at the mining business. In the future, we must guard against multiple risks such as falling currency prices, reduced mining revenues, and excessively high Bitcoin purchase costs.

96,700 people Were blood Bathed

The price of Bitcoin is skyrocketing again. Starting at 18:00 on March 13, the price of Bitcoin saw a short-term rise. After breaking through the $59,000 mark, it stood at $60,000 at 20:00 that day. After a short correction, it rose again at 4 a.m. on March 14 To the highest price of 61,750 US dollars (about 400,000 yuan), as of 17:00 on March 14th, the latest Bitcoin price was 60,716 US dollars (about 395,000 yuan), up 6.16% in the last 24 hours, and the turnover was 208.485 billion yuan. , The market value is about 7.37 trillion yuan.

The price of Bitcoin surpassed 60,000 U.S. dollars. For a time, the entire currency circle was boiling. Some holders liked to report in the circle of friends and began to predict the next high. Many people who eat melons bluntly did not understand and questioned “nothing.” Why can value-supported games become so crazy?”

“This round of Bitcoin bull market is a product of high inflation expectations.” A senior analyst analyzed that when U.S. bond yields rose rapidly some time ago, the market believed that the Fed’s monetary policy would change faster than expected, predicting the Fed The purchase of bonds will be reduced in advance, and even the time for raising interest rates is likely to advance. In this context, both the stock market and Bitcoin have plummeted. The recent rises in US stocks and Bitcoin are due to the fact that the market has stepped out of the previous haze, and the market’s expectations for mid-to long-term inflation have risen.

Fintech expert Su Xiaorui told reporters from Beijing Business Daily that there were many reasons why Bitcoin rose above 60,000 US dollars. The fiscal stimulus bill and the expected improvement of the macro-environment may also promote the rise of Bitcoin prices.

However, despite the rise in the price of Bitcoin, investors still need to be highly alert to the risk of subsequent volatility. In Su Xiaorui’s view, on the one hand, Bitcoin prices frequently show a “roller coaster” state, which can easily lead to liquidation; on the other hand, they also face policy risks. Some officials in the United States have repeatedly pointed out that such cryptocurrencies are speculation. Sexual assets also involve money laundering risks.

The price of Bitcoin frequently rides on the “roller coaster”, which is obvious to all in the industry. In fact, in January 2021, driven by the increase in purchases by large institutional investors and the enthusiasm of retail investors for participation, the price of Bitcoin has repeatedly hit record highs. However, in just one day, Bitcoin began to experience a sharp drop, with an intraday drop as high as 19%; In addition, on March 12, the price of Bitcoin rose all the way, breaking through the $58,000 mark in the short-term, but the price of Bitcoin suddenly crashed that night, falling more than $3,000 within two hours.

The price of Bitcoin has soared and plummeted, and the people who opened futures contracts were also “tragically battered and mourned.” At 17:00 on March 14, the contract emperor’s data showed that in the past 24 hours, a total of 96,700 yuan was liquidated, and the liquidation amount reached 891 million US dollars (approximately 5.8 billion yuan).

The Mining Market Is Crazy

As we all know, Bitcoin is not issued by a specific institution, but is generated through a large number of calculations based on a specific algorithm, which is the so-called “mining”. Specifically, according to the Bitcoin POW (Proof of Work) mechanism, each computer Node uses their computing power (also known as “computing power”) to grab the right to bookkeeping. Whoever grabs the right to bookkeeping can get the corresponding bitcoin rewards generated by the system. Among them, the hardware equipment for mining is called “mining machine”, the individual miner who purchases the mining machine is called “miner”, the place that hosts the mining machine and provides electricity is called “mine”, and there is also a mining platform “mining machine”. Pool” and so on.

The rise in the price of Bitcoin has directly promoted the surge in demand in the mining machine market, and many investors have purchased more high-power mining machines. An industry insider Zhang Li (a pseudonym) said that at present, Shenzhen Huaqiangbei has become one of the largest mining machine sales and distribution centers in the country and even in the world. Many companies in an office building are engaged in the mining machine business, and graphics cards are completely out of stock. Zhang Li also told a reporter from Beijing Business Daily that the price of Bitcoin has risen sharply and the mining machine market is in short supply. This frenzy has been going on for a long time, and even the notebooks have been sold out and used for mining.

The mining machine market is booming, and it can be seen from the status quo of the “hard to find a machine” in the mining machine mall. On March 14th, a reporter from Beijing Business Daily found from the official website of Yibite that the current inventory of 13 mining machine products was 0, and 8 of them were marked as sold out. Among them, the Yibite E12 mine was priced at 13,200 yuan. After payment, you need to wait at least three and a half months before delivery.

In addition to the new machines sold out, the current second-hand mining machine market is also booming. On March 14, a person who claimed to be “Shenzhen Huaqiangbei long-term recycling of second-hand mining machines” promoted in the circle of friends and major platforms, “A large number of Shenma m20, m21; a large number of s17, t17, s19; a large number of various bits Coin machine…” It is understood that even second-hand mining machines are in a frenetic state of being snatched in seconds.

Regarding the mining machine market, the Song Jiaji team of Guosheng Securities Blockchain Research Institute introduced that from 2018 to 2019, there was a Bitcoin bear market. Except for individual investment companies, few companies entered the mining industry. But since 2020, companies in the IT industry (such as online games, information security, etc.) have begun mining. Relevant data shows that as of February 20, 2021, 40 companies around the world, including overseas mining stocks, have owned more than 1.31 million bitcoins, which is more than 6% of the total number of bitcoins of 21 million, and the value exceeds 730. One hundred million U.S. dollars.

Hidden Dangers Behind

Behind the continuous breakthrough of Bitcoin’s new highs, it is still necessary to note that under the extreme mania of the mining market, its risks are full of hidden dangers.

“Overall, Bitcoin prices continue to rise and break new highs, which will increase the market’s enthusiasm and demand for mining machines, which in turn will have a direct impact on the mining business.” However, Su Xiaorui also pointed out that combined with the recent clearing of mining in some areas From the perspective of the mining business, the current mining market is too hot and there will be policy risks, including both domestic and foreign policy risks.

On the one hand, there is policy risk. Because of the “high energy consumption” issue, after the National Development and Reform Commission in April 2019 included insurance as an “industry that has been explicitly eliminated or immediately eliminated by the national industrial policy”, the Inner Mongolia Autonomous Region Development and Reform Commission issued another announcement at the end of February 2021 “Several safeguard measures to ensure the completion of the “14th Five-Year” energy consumption dual control target task (draft for comments)”, plans to comprehensively clean up and shut down virtual currency mining projects, all exit before the end of April, and new virtual currency mining projects are strictly prohibited.

On the other hand, there is a price risk. The current surge in Bitcoin has pushed up the price of mining machines. According to industry insiders, the sales of mining machines are driven by the soaring of virtual currencies such as Bitcoin, but if the prices of the latter fall sharply, the mining machine market will undoubtedly be greatly affected. At the end of January 2021, the price of Bitcoin suddenly “dipped” after climbing to a high level, and many second-hand mining machines were sold at discounted prices.

Su Xiaorui told the Beijing Business Daily that because Bitcoin is widely classified as a speculative asset, the Bitcoin mining industry dependent on speculative assets is also speculative. For the subsequent development of relevant institutions, it is recommended to recognize the uncertainties in the market and diversify risks as much as possible, expand diversified products, and avoid external shocks caused by single business risks.

Song Jiaji’s team suggested, “Relevant institutions should guard against the risk of currency price fluctuations and do a good job in inventory management. The current US epidemic situation has eased, the pace of economic recovery has accelerated, the central bank’s monetary policy has signs of marginal tightening, and the pace of traditional corporate asset allocation. It may be affected, and we need to guard against the risks of falling currency prices, reduced mining revenues, increased inventories of mining machine manufacturers, and excessively high Bitcoin purchase costs.”

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